Morgan Stanley lessened its stake in AcelRx Pharmaceuticals Inc (NASDAQ:ACRX) by 64.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,862 shares of the specialty pharmaceutical company’s stock after selling 63,825 shares during the quarter. Morgan Stanley’s holdings in AcelRx Pharmaceuticals were worth $91,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in AcelRx Pharmaceuticals by 15.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,376,567 shares of the specialty pharmaceutical company’s stock valued at $8,542,000 after buying an additional 451,962 shares during the period. Lincoln Capital Corp increased its stake in shares of AcelRx Pharmaceuticals by 8.1% during the 2nd quarter. Lincoln Capital Corp now owns 67,000 shares of the specialty pharmaceutical company’s stock worth $170,000 after purchasing an additional 5,000 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of AcelRx Pharmaceuticals by 15.4% during the 2nd quarter. Wells Fargo & Company MN now owns 254,709 shares of the specialty pharmaceutical company’s stock worth $644,000 after purchasing an additional 33,910 shares during the last quarter. STA Wealth Management LLC acquired a new position in shares of AcelRx Pharmaceuticals during the 2nd quarter worth $159,000. Finally, Northern Trust Corp increased its stake in shares of AcelRx Pharmaceuticals by 122.4% during the 2nd quarter. Northern Trust Corp now owns 290,252 shares of the specialty pharmaceutical company’s stock worth $734,000 after purchasing an additional 159,744 shares during the last quarter. Hedge funds and other institutional investors own 21.92% of the company’s stock.
NASDAQ ACRX opened at $1.66 on Monday. The company has a fifty day simple moving average of $2.04 and a 200 day simple moving average of $2.40. The company has a market cap of $132.09 million, a P/E ratio of -2.05 and a beta of 2.06. AcelRx Pharmaceuticals Inc has a 1 year low of $1.64 and a 1 year high of $4.09.
AcelRx Pharmaceuticals (NASDAQ:ACRX) last posted its quarterly earnings data on Wednesday, November 6th. The specialty pharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $0.61 million for the quarter, compared to the consensus estimate of $1.22 million. As a group, sell-side analysts anticipate that AcelRx Pharmaceuticals Inc will post -0.7 earnings per share for the current fiscal year.
In related news, Director Mark G. Edwards purchased 25,000 shares of AcelRx Pharmaceuticals stock in a transaction on Tuesday, November 12th. The stock was purchased at an average cost of $1.78 per share, with a total value of $44,500.00. Following the acquisition, the director now directly owns 243,750 shares in the company, valued at $433,875. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 7.50% of the stock is owned by corporate insiders.
Several brokerages have recently commented on ACRX. Zacks Investment Research upgraded shares of AcelRx Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $2.25 price target on the stock in a research note on Monday, November 11th. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of AcelRx Pharmaceuticals in a research note on Friday, November 8th. Finally, Credit Suisse Group lowered shares of AcelRx Pharmaceuticals from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $2.00 in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. AcelRx Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $6.46.
AcelRx Pharmaceuticals Profile
AcelRx Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of therapies for the treatment of acute pain. Its lead product candidate is DSUVIA, a 30 mcg sufentanil sublingual tablet for the treatment of moderate-to-severe acute pain. The company also develops ZALVISO, a pre-programmed and patient-controlled analgesia system that allows hospital patients with moderate-to-severe acute pain to self-dose with sufentanil sublingual tablets to manage their pain.
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